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The mayor has proposed a Class 6 (b) tax incentive to support the $3.9-million rehabilitation of an 84,174-square-foot industrial building in the Stockyard Industrial Corridor by Griffith Foods Inc.

The new Observatory completes the third-phase of the building's $165 million Observatory Experience project.

The firm reports it paid $42.85 million for the eight-story, 233,166-square-foot, Class-A office property at 1111 West 22nd St. Located in the East/West submarket, the building is 93% occupied.

Empire State Realty Trust Opens Its New Second Floor Gallery

Deal flow has picked up since the first quarter, Yardi Matrix says, and points out that the drop in the 10-year U.S. Treasury rate to just over 2% could boost sales.

The brokerage firm in its first quarter 2019 market snapshot report notes that availability and vacancy are near all-time lows and rental rates continue to increase at a 3.5%-4% annual rate.

Marylou Berk urged CRE professionals to maximize their potential at the celebratory event that honored her, Tommy Craig, Joanne Podell and Amy Rose.

Marylou Berk, Tommy Craig, Joanne Podell and Amy Rose will be recognized with emcee NBC journalist Rashida Jones at the festive Oct. 4 celebration at the Edison Ballroom.